REC’s solar module shipments in Q3 impacted by US market weakness

Facebook
Twitter
LinkedIn
Reddit
Email
REC said it shipped a total of 276MW of modules in the third quarter, down from 326MW in the previous quarter. Image: REC Group

Integrated PV module manufacturer REC Group has reported around a 15% decline in third quarter, 2016 shipments, driven by around an 18% decline in shipments to its largest market, the US. 

REC said it shipped a total of 276MW of modules in the third quarter, down from 326MW in the previous quarter. Although shipments to the US still accounted for 60% (167M) of the total, US shipments fell from 202MW in the second quarter of 2016.

This article requires Premium SubscriptionBasic (FREE) Subscription

Unlock unlimited access for 12 whole months of distinctive global analysis

Photovoltaics International is now included.

  • Regular insight and analysis of the industry’s biggest developments
  • In-depth interviews with the industry’s leading figures
  • Unlimited digital access to the PV Tech Power journal catalogue
  • Unlimited digital access to the Photovoltaics International journal catalogue
  • Access to more than 1,000 technical papers
  • Discounts on Solar Media’s portfolio of events, in-person and virtual

Or continue reading this article for free

Market research firm GTM Research had recently highlighted a weakness in the US residential market in the third quarter, despite record total installs, driven by the utility-scale sector. 

The company noted that shipments to the APAC region were growing by 88% compared with the previous quarter, although REC did not disclose a MW figure. REC produces wafers, cells and modules at its facility in Singapore.

“We continue to make commendable improvements throughout our value chain in order to overcome the current challenging market situation,” comments Steve O’Neil, CEO at REC. “REC has a long and proven track record for coming out stronger from such industry downturns, as evidenced by our longevity and 20 years in business.”

REC also noted that it had achieved an in-house multicrystalline solar cell conversion efficiency of 20.46% in the quarter and would be in mass production of multicrystalline cells with efficiencies above 20%, starting in early 2017. The company has previously announced it would be migrating all cell production to PERC and half-cut cells.

In the first nine months of 2016, REC has shiped a total of 916MW. 

8 October 2024
San Francisco Bay Area, USA
PV Tech has been running an annual PV CellTech Conference since 2016. PV CellTech USA, on 8-9 October 2024 is our second PV CellTech conference dedicated to the U.S. manufacturing sector. The event in 2023 was a sell out success and 2024 will once again gather the key stakeholders from PV manufacturing, equipment/materials, policy-making and strategy, capital equipment investment and all interested downstream channels and third-party entities. The goal is simple: to map out PV manufacturing in the U.S. out to 2030 and beyond.
26 November 2024
Málaga, Spain
Understanding PV module supply to the European market in 2025. PV ModuleTech Europe 2024 is a two-day conference that tackles these challenges directly, with an agenda that addresses all aspects of module supplier selection; product availability, technology offerings, traceability of supply-chain, factory auditing, module testing and reliability, and company bankability.

Read Next

Subscribe to Newsletter

Upcoming Events

Solar Media Events
April 10, 2024
Dallas, Texas USA
Solar Media Events
April 17, 2024
Lisbon, Portugal
Solar Media Events
May 1, 2024
Dallas, Texas
Solar Media Events
May 21, 2024
Napa, USA